MOSCOW, Sept. 24 (Xinhua) -- Russia's budget deficit is projected to reach 1.6 percent of GDP in 2026, Russian Finance Minister Anton Siluanov said Wednesday, as the government approved the country's draft budget for 2026-2028.
In a government meeting on Wednesday, Siluanov said that Russia's budget revenues are projected at 40.283 trillion rubles (about 481 billion U.S. dollars) in 2026, and non-oil and gas revenues will account for almost 78 percent of total revenues. Expenditures are expected to increase to 44.1 trillion rubles next year.
The projected federal budget deficit of 2026 will be followed by 1.2 percent of GDP in 2027 and 1.3 percent of GDP in 2028, according to Siluanov.
Russian Prime Minister Mikhail Mishustin said at the meeting that the new three-year draft budget is being planned with a realistic outlook and will be based on current global challenges.
